New Delhi, Aug 27 - India's new Foreign Trade Policy was unveiled Thursday with a mix of fiscal sops and procedural reforms in a bid to reverse 10 consecutive months of decline in merchandise exports and ensuring healthy growth of out-bound shipments.

The continuation of the popular duty-free export promotion scheme till end-2010, special sops for labour-intensive sectors and zero duty on capital goods import were some of the highlights of the policy unveiled by Commerce Minister Anand Sharma here.

'My immediate priority is to arrest and reverse the declining trend in exports,' he told the representatives of various export promotion councils and industry chambers at the Pragati Maidan trade and convention centre here.